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Sep 11 - 02:55 PM

GBP: Further Selling Likely Ahead On Rates Market Pricing & Brexit Outlook - MUFG

By eFXdata  —  Sep 11 - 01:45 PM

MUFG Research maintains a bearish bias on GBP in the near-term.

"The pound has plunged this week as the outlook deteriorates and the Brexit outlook worsens as well. GBP/USD is close to -3.5% this week – by far the worst performing G10 currency – but there is likely to be further selling to come as the market sees increased prospect of BoE monetary easing.

The OIS market indicates 15bps of easing by the February 2021 MPC meeting and the rates market pricing will continue to weigh on GBP performance," MUFG notes. 

Source:
MUFG Research/Market Commentary

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